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FOREIGN CROPS AND 



LIBRARY 

RECEI V E D 

* APR 2 1933 ^ 



ISSUED WEEKLY BY 

UNITED STATES DEPARTMENT CF AGRICULTURE 

BUREAU OF AGRICULTURAL ECONOMICS 
WASHINGTON, O. C. 



Vol. 36 



April 2, 1938 



No. 13 



LATE CABLES. 



London colonial wool sales, second series for 1938, 
closed March 30. During last week of sales, merinos were 
steady, combing crossbreds were active but a little irregu- 
lar, and clothing crossbreds were active and firm. Cer- 
tain faulty sorts improved toward end of series. Compared 
with the closing of the preceding series on February 3, 
prices for greasy and scoured merinos were par to 5 percent 
lower; fine greasy crossbreds par; medium and low greasy 
crossbreds 5 to 7.5 percent lower; fine scoured crossbreds 
par to 5 percent lower; medium and low scoured crossbreds 
5 percent lower; fine, medium, and low combing lamb's slipss 
par. clothing 5 percent lower; and fine, medium, and low sheep's 
slipes were par. Greasy merinos, crossbreds and slipes went 
chiefly to Yorkshire buyers. Merinos were bought largely 
by Germany, with a few going to the Soviet Union, France, 
the Netherlands, and Belgium. (Agricultural Attache C. C. 
Taylor, London.) 





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192 



Foreign Crops and Markets 



Vol. 36, No. 13 



Tobac co si tuat ion_ in the Par East 

Flue-cured, tobacco production during 1937 in Far Eastern countries - 
China, Japan, and Manchuria - established a new record of approximately 290 
million pounds, according to a recent report from Agricultural Commissioner 
Owen L. Dawson, of the Shanghai office, Bureau of Agricultural Economics. 
This large 1937 production of flue-cured tobacco in the Orient was in line 
with recent trends which are expected to continue with a temporary inter- 
ruption in China this year owing to hostilities. The total area expected 
to be planted to flue-cured tobacco in 1938 is a.bout 213,000 acres, or 10 
percent less than that of last year. The reduction will probably occur in 
China with an expansion in acreage in Japan and Manchuria. 

FLUE- CURED TOBACCO: Production in specified areas of the Far East, 
average 1932-1936, annual 1936 and 1937 



(Farm weight) 

COmtiy : ijgfk^U 1936 I 19E7 

• Milli on pounds : Million poun ds : Million pounds 

China : 147.0 180.0 210.0 

Japan a/ j 49.7 j 58.2 j 75.5 

Manchuria ' 3.6 j 5.0 j 4.0 

Total ; 200.3 : 243.2 i 289.5 



Shanghai office, Bureau of Agricultural Economics, 
a/ Including Chosen and Taiwan. 

The most important feature in the oriental situation this crop year 
is the seriously delayed marketing of leaf tobacco in China because of 
hostilities in areas of production and disruption of transportation facili- 
ties generally. It is expected that in a few weeks it will be possible to 
move tobacco from the Shantung area in China and so relieve the situation 
to a large extent. 

Total utilization of leaf tobacco in the Orient this season is not 
expected to fall materially below that of last year. The consumption of 
leaf for hand-rolled cigarettes and for. pipe tobacco has increased con- 
siderably owing both to the difficulty of obtaining manufactured cigarettes, 
which have risen in price at interior points, .and to decreased purchasing 
power of consumers. The former factor is much more important. Cigarette 
factories at Shanghai, which were chiefly affected by hostilities, are 
gradually increasing their activities; and, with improved facilities for 
production and distribution, substantially increased output is expected. 
Increases in North China are also in prospect. Based, on assumptions of 
increased activity in the Shanghai cigarette factories and a comparatively 
high rate of activity at other points for the current season, the equiva- 
lent of about 75 percent of last year's cigarette production is possible. 



April 2, 1933 



Foreign Crops and Markets 



193 



It is anticipated that this decline, however, will "be substantially off- 
set by increased leaf consumption in the form of hand-rolled cigarettes 
and pipe tobacco • 

Imports of United States flue-cured leaf into China, Japan, and 
Manchuria during the current season are expected to fall considerably b.low 
the 68.4 million pounds imported last season (October 1936 through 
September 1937). The reasons for this decline are restrictions on im^ 
ports of tobacco into Japan, in conformance with that country's general 
policy of import control, and the reduced use of United States leaf in 
Chinese cigarette factories. 

European market for United States prunes ap-ncars bright 

The 1937 production of dried prunes in Europe was exceedingly 
light and the smallest in many years, according to N. I. Nielsen, agri- 
cultural attache at Paris. In a preliminary survey of the 1937-38 
season, Mr. Nielsen estimates that the French cro-o plus the exportable 
surplus from Yugoslavia, Bulgaria, and Humania will probably not exceed 
5,500 short tons as against the comparable 1936 total of about 55,400 
tons, and the 1929-1934 average of slightly more than 27,000 tons. In 
other words, that part of the 1937 European crop having a bearing on the 
demand for American prunes in Europe amounted to only 10 percent of the 
crop of the preceding season. In contrast to the small Europe ah crop, 
United States production in 1937 was large, totaling 247,200 short tons 
compared with 184,300 in 1936 and 212,350 tons for the 1929-1934 average. 

The January 1 stocks of European-grown prunes available for export 
were very light and will have little influence on the market for the re- 
mainder of the present season. Although the United Kingdom market will 
soon be receiving a few prunes from South Africa and Australia, it is 
apparent in view of the short stocks, that the United States is now about 
the only source of supply. In the 1936-37 season, Europe imported a to- 
tal of about 58,500 tons of prunes from the United States. To January 1, 
1933, exports of American prunes to European countries amounted to 38,542 
tons, or 48 percent more than the 26,034 tons shipped in the corresponding 
period of 1936-37. 

M exican West Coe.st vegetable exports decline 

Although exports of fresh vegetables from the Mexican West Coast 
wer-? heavy during the first half of March, they were expected to drop 
off sharply in the second half of the month because of the heavy competi- 
tion from Florida and Cuban vegetables, according to a communication from 
the American consulate at Kogales, Mexico. Substantial auantities of 
tomatoes are available, however, but exports will be small unless prices 
rise . 



194 



Vol. 36, No. 



A total of 266 cars moved through Nogales into the United , States 
in the period March 1 to 15 compared with 266 and 231 cars in the same 
periods of 1937 and 1936, respectively. , 

Total shipments of fresh vegetables from the Mexican West Coast 
through Nogales from November 1 to March 15 have amounted to 1,398 
cars compared with 1,243 and 1,199, respectively, in the same periods 
of the 1936-37 and 1935-36 seasons. The bulk of the movement is of 
tomatoes, but considerable quantities of green peas and peppers are a„l- 
so shipped. 

End of Cuban vegetable season speeded by hot weather 

Very warm, windy weather and the absence of rain have caused 
injury to the reamining tomato and lima-bean crops, writes Mr. Harold 
S. Tewell, American consul at Kabana. While tomatoos now matured a.re 
still of good quality, especially those produced by late plants, it i s 
reported that, unless cooler temperatures and rains occur shortly, ex- 
ports will decline sharply. Although small shipments will probably be 
made in April, the shipping season was expected to be about over by the 
end of March. 

T he Indian cashew-nu t situation 

The condition of the cashew-nut crop of India, which is being 
ha-rvosted from February through June of this year, is satisfactory 
despite the adverse effects of the monsoon in 1937* according to a re- 
port from Consul Curtis C. Jordan at Madras, India. Although offi- 
cial statistics on the acreage under ca.shew nuts in both the Ma.dras 
^nd the Bombay Presidencies are not available , it is known that this 
acreage is increasing. It is also believed that many of the wa.ste 
lands in tile Madras Presidency are now being planted with cashew nuts. 

luring the 8-rnonth period, April 1 to November 30, 1937, ex- 
ports of cashew kernels from thw Madras and Bombay Presidencies amounted 
to 21,017,000 pounds valued at $3,728,000 compared with 17,376,000 
pounds valued at $3,211,000 during the corresponding period of 1935. 
Of these amounts, the United States took 18,203,000 pounds va,lued at 
$3,222,000 in 1937 and 14,9 73,000 pounds with a value of $2,849,000 in 
the comparable 1936 period, representing 87 percent and 86 percent of 
the respective totals. 

Imports of raw ca.shew nuts into both the Bombay and the Madras 
Presidencies during the. 8-month period amounted to 31 million pounds 
compared with 11 million pounds for the corresponding period of 1936. 



April 2, 1938 



Foreign Crops and Markets 



195 



CASHTU TUTS: Imports into Madras and Bombay Presidencies of India, 
April 1-Uovember 30, 1935 and 1937 



Source 



Madr as Preside ncy 

Union of South Africa. , 

Portuguese East Africa. 

Kenya Colony 

Burma. 

Ceylon 

Total 

B ombay Presidency 

Portuguese East Africa. 

Kenya 

Madagascar 

Tanganyika 

Total 



Aoril 1 - November 30 



1935 


1937 




pounds 


: Pounds 




2, 327, 360 


; 5,676,160 






; lo, 007, 040 






; 815,350 






: 2,240 






OO 




2,327, 360 


22,500,866 




8,948,300 


3,173,240 




80,640 


• 125,440 






64,950 




8,950 


5,960 





9,038,400 



8,377,600 



Compiled by American Consulate, Madras. 



Official statistics showing the supply of cashew nuts for the year 
ending August 31, 1933, for all of India r.re not available. Estimates in- 
dicate that this supply will amount to about 42,700,000 pounds, of which 
it is believed that some 25,000,000 pounds, or 59 percent, will be ex- 
ported to the United States. 



CASHEW NUTS: Estimated supply and distribution in India, 1937-38 



Item 


Shelled nuts 


SUPPLY 


1, 000 pounds 

2,000 
13,500 
22,200 




42,700 


DI STRIBUTIOIT 


25,000 
6,000 
7,000 
4.700 




42,700 


Compiled by American Consulate, Madras. 



Curing the last 3 months of 1937, there was a rapid decline in 
India in the price of shelled cashew nuts. Prices fell from 19 cents per 



196 



Foreign Crops and Markets 



Vol. 36, No. 13 



pound for whole nuts in September to 14 cents in December. During the 
same period, the price of "broken kernels fell from 15 cents to 9 cents 
per pound. This decline in price has been attributed to the general 
slackness in commodity markets as well as to the tendency toward exces- 
sive imports of African cashew nuts during 1937. Moreover, increased 
production and heavy stocks purchased forward when the market was more 
favorable are now depressing prices already' affected by a decline in 
the British and American import markets. Current prices are said to 
be the lowest in the history of the cashew-nut industry. Wholesale 
price Quotations in the middle of January 1933 for the principal grades 
of cashew kernels generally shipped to the .American market were as follows: 



CASHEW HUT'S: Wholesale price per pound in India, January 1938 



G-rade 


: ■ Price 










Cents 


1st 


grade 


(sound, 


large, whole kernels).... 


14.5 


2d 


grade 


( sound, 


small, whole kernels}.... 


13.4 


3d 


grade 


(halves 


and broken kernels) 


12.3 



American Consulate, Madras. 



The opinion of the trade in India is that prices of cashew-nuts are 
not likely to reach the high levels they held during the past 2 or 3 years. 
Information reaching Indian exporters from the American market indicates 
that importers in the United States are heavily stocked and are not dis- 
posed to make fresh purchases, despite the prevailing low prices. Local 
exporters in both Madras and Bombay are holding large stocks of cashews 
and are compelled to stop processing them until they can find markets. 
The tendency of the local export market is said to be week, and further 
price declines are expected. 

While the export trade is discouraging to many local dealers, the 
domestic demand for cashew nuts in India, is improving. As a. result of 
the low prices at which the cheaper grades of cashews are sold in the 
domestic market, a slight increase in local consumption was reported 
at the beginning of 1938. 

Filbert produc tion in t he Mediterranean B as in countries again large 

The combined filbert production of Italy, Spain,' and Turkey for 
1937 is now estimated at 135,000 short tons, according to a report by 
Agricultural Attache N". I. Nielsen at Paris. The estimated 1936 produc- 
tion amounted to 131,000 tons and the 1929-1934 average to 91,800 tons. 
Moreover, in 1937 the crop was above average in each country and larger 
than in 1936 in Spain and Turkey. 



April 2, 1938 Foreign Crops and Markets 197 



Exports from the three countries from September 1, 1937, to January 
31, 1938, amounted to an equivalent of 55,400 tons of unshelled filberts. 
This represents a decline of 37 percent in comparison with the 87,000 
tons shipped during the corresponding period of 1935-37, It is apparent, 
therefore, that present filbert stocks for the Mediterranean Basin as a 
whole arc large, and greater than at this time in 1937. Furthermore, even 
if Spain continues to be a relatively unimportant factor in the export trade, 
present stocks in Turkey and Italy seem to be more than sufficient to meet 
the normal demand for the remainder of the season. 



FILBERTS (UNSHEIXED BASIS): Exports from Mediterranean Basin countries, 
September-January 1937-33. with comparisons a/ 



^ U U l . _ 1_ _ U □ 1-^. 

Crop year 
(Sept emti e r -Aiifii afA 


Italy 


Spai,n 
b/ 


1^-. 

Turkey 
b/ 


Total 


Average 1929-30 to 1934-35.... 
1937-38 to end of January 


Short tons 


Short tons 


Short tons 


Short tons 


15,291 
11,921 
34,266 
31,105 
14,793 


18,597 
23,420 
9,800 
5,810 
4,630 


41,597 
67,250 
63,800 
50,900 
36 , 000 


78,585 
102,591 
107,856 
37,815 
55,423 



Paris office, Bureau of Agricultural Economics. 

a7 Shelling ratio Italy and Spain: 2.1-1, Turkey: 2.5-1. 

by Since April 1935, it has been necessary to estimate exports on the basis 
of imports into the more important consuming countries. 

cj Starting with the 1932-33 crop season, it has been necessary to estimate 
crop year exports as official statistics on a monthly basis have not been 
released. 



GILBERTS: Imports into chief consuming co" 
September-January 1937, with compari so- 


uitries, 

as 


Country 


Sep t em b e r-Ausrus t 


Sent ember- January 


1933-35 1933-37 


i 336-37 ' 


1937-38 




Short tons 


Short J ;cns 


: Short ions 


Short tons 


1 - 735 
1^077 
1,589 
2,110 
5,974 
26,015 
435 
1.493 


2,321 
1,131* 
1,362 
2,297 
5,680 
27 , 834 

301 
1 , 575 


•ej' 2,734 
•a/' 559 
\aj 1,208' 
ja/ 1»433 
4,523 
: 20', '941 
: 173 
I a/ 714 


hj ioo 

a/ 430 
a/ 400 
a/ 1,400 
2,644 
13,063 
. 226 
a/ 542 




40,430 


43,001 


\ 32,290 


13,805 



Paris office, Bareau of Agricultural Economics. 

a/ To end of December only. For France, partly estimated for 1937-38. 
b/ Shelled and unshelled combined. 



198 



Foreign Crops and Markets 



Vol. 35,. No. 13 



-Shelled alm ond:' producti on in the Mediterranean pa gin unchanged 

It, is now estimated that the total 1937 almond, production in the ' 
Mediterranean' Basin countries is not above that of 1936,. according tc a 
report from Agricultural Attache II. I. Kielsen at Paris. Production .in 
Italy, France-, French Morocco , and Portugal approximated 39,300 short tons. 
This is a little above the estimated 1936 production of 36,900 tons and 
slightly over the 1929-1935 average production of 37,640 tons. It is not' 
possible to make any reliable estimate for Spain. It is believed, how- 
ever, that the 1937 Spanish production of shelled almonds was much smaller 
than the 1936 product ion. A total of from 1,500 to 2,000 tons, or a lit- 
tle more than in 1936, was produced in Algeria, Tunisia, and Greece. 

Supplies for the 1937-38 season in ail the Mediterranean countries 
with the exception of Spain appear to be as large as those in existence 
during the 1936-37 season. • Although no definite information is available 
for Spain, it is believed that supplies in 1937-38 for , the . country as a 
whole are somewhat lower than in 193.6-37 because . of . the . comparatively, 
small crop of 1937. It is. believed that stocks . remaining on hand eX the 
beginning of the 1938-39 season will be confined, mostly to Italy and the 
territory held by the Government in Spain. If unsettled conditions in Spain 
do not improve, it is certain that Italy will be a controlling factor in the 
1938-39 shelled-almond market. 

ALMOKDS (SHELLED): Exports • from Mediterranean Basin countries, 



1929-50 to 1957-58 .__ 

; ; '• French -Portugal; 

Crop year - Italy j Spain ! Morocco : ( es ti- : Total 

(Sep, ember-August) j j j ^ j mated^ j 

I Short : Short I Short I Short i Short 

: feojsa : tons : tons : tons . : t o_&s_ 

1929- 30 j 32,415: 14,926 • 2,736i l r 200| 51,277 

1930- 33 ■ 24,056i 18,300 j 781; 1,600| 44,737 

1931- 32 i 13,529: 19,359 ; 2,232'; 3,600: 38,720 

1932- 33 j 23,013: 16,600 \ 1*797; 1,500: 42,910 

1933- 34 j 27,545: 18,216 j .2,288; 2,800: 50,849 

1934- 35 ; ; . . j 28,526: 25 , 989 ■ i - • 1 , 496: 2,700:. 58,711 

1935- 36 ; ! 30 ,582 fc/ 23-,500 488 : 1.700: 56 ,270 

Average I : 25 .6 67: 1 9,556 j .. .1,0 88: 2,15 7: 49,068 

1936- 37 \ ' 30, 816:^.7-, 000 I 1,490; d/. 1,330; 50,636 

1936- 37 to end of December... i 20,S97:c/ 8,200 •:■ • 1,372; d/. . . 470! 30,939 

1937- 38 to end of December. .. 'e/l0,471 : c/ 5, 800 ■ 3.157' d/ 550 : 19,978 



Paris office, Bureau of Agricultural Economics, a/' July to June, inclusive, 
b/ Partly estimated, cj Rough estimate based on imports into the more im- 
portant consuming countries, d/ Probably includes some re-exports of 
Spanish almonds, e/ While this is tne official figure and represents a 
drop of 50 percent in comparison with the corresponding period of 1936, the 
export figures of the trade show a decline of only 35 percent. 



April 2, 1938 



k>rei£;n Crors and Markets 



199 



1T3S (SHELLED): Imports into chief consuming countries, 
Sep t ensbe r-Deceisb er 1937, with comparisons 



o our: Try 



united 
United 
Holland 
Belgium 



Kingdom a/ 
States . . 



a/ . 
~'i 
a . 



re rman; 
'ranee 



' a; 

C/ . 



S ep t e mb e r - Augu s t 



September- 



iber 



•36 



Short tons 
17,382 
5,507 
3,817 
1,037 
20,768 



1936-37 



.30 



Short tons • Short tons 



14,688 
5,175 
1,790 
843 

15,718 
7 257 



I 7,577 

ib/ 2,017 

i 669 

! 427 

! 3,606 

;"o/ 5,425 



1937 



Short tons 
6,479 

hj 737 
1,203 
407 
8,322 

b/ 751 



XL. 



! qq 



Faris office, Bureau of Agricultural Fcoriomics. 

a/ Includes uhshelled almonds. 

b/ To end of November. 

c/ Does not include transit shipments. 



HOG-S AHD POHK P30DUCTS: 

1- 



Average price ;per 100 pound: 
bruary 1938 with comparisons 



in specified markets, 



Chicago - 



Basis -packers' 



ana 



shippers' quotations. 
Corn - 
Chicago - 

Ho. 3 Yellow 

Hogs , heavy - 
Berlin - 

Live weight 

Barley - 

Le ipzig. . , 

Lard - 

Chicago 

Liverpool 

Hamburg 

Cured pork - 
Liverpool - ' 
American short cut 

green hams 

American green bellies 
Danish Wiltshire sides 
Canadian green s i de s . . 



19.' 



;13 



average 



>llars 



1925-1929 
ave ra£*e 



Dollars 



a/ Hot yet available. 



Feb. 

1937 



Dollars 



7.43 


10.68 


10.08 


7.91 


8.33 


1.02 


1.64 


1.93 


1.06 


1.02 


11.39 


14 32 


16.79 


17.23 


17.23 


1.76 


2.55 


3.27 


3.27 


a/ 


10.18 
11.60 
13.91 


14.31 
15.03 
15.40 


13.30 
14.40 
14.22 


10.05 
11.46 
10. 65 


10.06 
11.34 
10.62 


13.00 

14.20 
13.49 


22.04 
20.23 
21.96 
20.92 


20.51 
17.60 
18.79 
16.39 


18.86 
17.70 
21.72 
13.26 


19.50 
16.56 
21.99 
18.65 



J an. 

1938 



dollars 



FeD. 

1933 



Dollars 



200 



Foreign Crops end Markets 



Yol. 36, Ho. 1.3 



HOC-S AND POBX PRODUCTS: Indices of foreign snpplies and demand, 

OctcDer-Eebrvary, !93 1 -35 to 1937-53 

: October-Eebruary 







. 19U3-10 


. 1924-25 










Country and item 


: Unit 


to 
1313-14 

average 


: to 
: 1928-29 
average. 


: 1934-35 


; 1935-35 


: 1935-37 


1937-38 


UNITED KINGDOM ■ 


















i ooo 














fresh pork, London.. 


pounds 




30,4 83 


j- 38,924 


: 42,555 


i 39,221 


j 34,258 


Imports - 
















Bacon - 


















it 


93,904 


207,453 
26,773 


• 130,479 
. 20,701 


! 152,203 
; 23,450 


; 148,219 
; 24,375 


: 158,322 
i 23,925 


Irish Free State... 


ii 


United States. 


ii 


78,471 


45, 916 


: 1,522 


; 799 


; 752 


; 616 


Canada . c 


ii 


15,974 


33.510 


, 46,668 


! 39,732 


: 57,730 


; 65.955 


Dth pr<? .... 


ti 


210, 359 
35,919 
95, 585 


61 , S83 
376,640 

49,767 
108,005 


31 , 949 
331,420 
27,492 
39,451 


: 74,098 
300,231 
27,116 
65.880 


j 71,560 
i 313,536 
i 27,575 
: 67,877 


! 76 ^26 
: 326,152 
j 30,135 
j 80,023 




1! 




II 


Lard, total 


II 


CANADA: 
















Slaughter - 
















Hogs, inspected > ... . 
GERMANY; 


1,000' s 




1 , 230 


1,319 


1,309 


1,899 


a/ 


Production - 
















Hog receipts, 


















ii 




1,534 


1 ,436 


815 


1 , 504 


a/ 


Hog slaughter 








36 O RTi tf'''' r ii .,..,.«. 


I! 


1 , 884 


X ^ \J \J 


1,934 


1 0R7 


1 99^ 


a/ 


Ttti tip t "fc ^ — 


1 000 














Bacon, total <, 


pounds] 




8,890 


13,723 


11,644 


3, 704 


a/ 


Lard, total 


m ; 


85,046 


92,334 


29,713 


41,732 


21 , 280 




UNITED STATES: 
















SI an • - h t ( • v — ■ 
















Hogs, inspected-. .... 


1,000' si 


14, 927 


22,070 


17,221 


13,179 


18,833 


16,998 


Exports - : 
















Bacon - 


. 1,000 : 














T in i f". f> Ft vi^i^om 

^JilJ., OCU X-.'-ll^LwU 111 c a 9 m a 




57,392 


28,428 


' • • 927 


341 


386 


482 




11 


947 


4,747 


0 

'2,15? 


0 


0 


22 




11 


3, 094 
78,202, 


3, 999 


331 


302 
1,258 


273 
2,531 




ii i 


61,697 


4,094 


1,111 


Hams and shoulders - 
















United Kingdom •••*• : 


II 


56 , 747 


56,734 


17,547 


14,179 


10,416 


15,502 




It 


55,481: 


59,046 


pp ■ OA P, 


' 16,659 


12,502 


18,048 


Lard - . • 










United Kingdom ; 


II 


72,817 


93,654. 


71,557 


24,913 


22,662* 


59 : 465 


Germany ._«. 




52,463; 


79,895; 


2, 513; 


2,205 


1,035; 


2,035 




II ; 


14,8931 
17,255; 
204' 561 : 


35,047: 
20,47li 
313M36: 


14, 863i 

Q 


7,634. 
39: 
35,147. 


13,864: 
0: 

33 , 06I ; 


23,653 
77 




n : 


To t al > « , . „ ! 


H ; 


96,336: 


95.029 



a/ Not yet available. 



April 2, 1538 



Foreign Crops and Markets 



201 



WHEAT: Closing Saturday prices of May futures 



Date 



Chicago 



Kansas City Minneapolis Winnipeg a/Liverpool a/ j£re*s"°"D I 



1937 1938 



1937 . 1938 ■ 1937 . 1938 1937 ; 1938 1937 1933 1937 1338 



Cents 



Cent; 



Cents 



143 
126 
136 
134 
138 
143 



99 
86 
90 
89 
87 
86 



134 
120 
127 
126 
130 
134 



Cents .'Cents 



98 
84 
87 
86 
86 
34 



147 
132 
140 
139 
143 
147 



Cents 



109 
95 

100 
98 
96 
95 



Cents Cents 'Cents 
147 



High c/. 
Low cj . . 
Mar . 5 . . 
12.. 
19.. 
26.. 

a/ Conversions at noon buying rate of exchange, b/ Prices are of day previous to 
other prices, c/ January 1 to date, d/ April and May futures, ej March and May 
futures, fj March futures, gj April futures. 

WHEAT: Weekly weighted average cash rrice at stated markets 



118 

129 
130 
133 
147 



130 
115 
122 
120 
119 
115 



145 
119 
131 
133 
136 
145 



Cents 
116 
99 
110 
109 
102 
100 



Cent ! 



d/130 e/114 
d/ 94 e/ 98 
104 f/l06 
103 f 102 
102 

QQ 



: 117 

a/150 





All classes 


Ho. 


2 


Ho. 1 


Ho. \ 


2 Hard 


Ho. 


2 


Western 


Week 
ended 


and grades 
six markets 


Hard 
Zar.sa 


Winter! 
s City 


Ik. IT. Spring 
Minneapolis 


Amber IXrum 
Minneapolis 


Hed Winter 
St. Louis 


White 
Seattle a/ 




1937 


1933 


1937 


1938 


1337 


1938 


1937 


1933 


1937 


1936 


1937 


1936 


High b/. 


Cents, 


Cent s 


Cents 


Cents, 


Cents 


. Cent s 


Cents 


Cents 


Cent s 


Cents 


Cent s 


Cents 


150 : 


105 . 


144 


: 105 ; 


^167 


: 131 " : 


206 


112 


147 


~102~ 


Tl9" 


91 


Low b/. . 


135 i 


91 


133 


90 : 


148 


: 113 ; 


154 


101 


137 


89 


110 


86 


Mar. 5.. 


139 i 


98 : 


138 


yb ■ 


152 


: 130 


154 


112 


142 


96 


113 


88 


12.. 


139 ' 


94 : 


138 


92 ; 


154 


113 


206 


104 


142 


91 


115 


87 


19.. 


140 ' 


9i ; 


137 


91 ; 


153 




170 


101 


140 


90 


117 


86 


26.. 


146 


92 


141 


: 90 


143 




133 


104 


147 


89 


119 





a/ Weekly average of daily cash quotations, basis Ho. 1 sacked, b/ January 1 to" 
date. 



WHEAT: Price per bushel at specified European markets, 1936-37 and 1937-38 







Rotterdam 


Perl in 

c/ 


England 


Year 
beginning 
July 


Range 


Hard 
Winter 


Manitoba 


Argentina 
sJ 


Australia 

k/ 


and 
Wales 


Ho. 2 


Ho. 3 


Dor 


:estic 


1936-37 d/.. 




Cent s 


Cent s 


Cent s 


Cents 


Cent s 


Cents 


High 


e7~132 


152 


128 


142 


233 


130 


1937-33 d/.. 


Low 


ej 101 


99 


99 


100 


209 


91 


High 


ej 148 


160 


146 


149 


225 


132 


Wee.c ended 


Low 


e/ 115 


134 


117 


112 


208 


105 


Feb. 10 .. 




ej 123 


152 


125 


117 


224 


110 


17 .. 




e/ 118 


153 


122 


116 


225 


110 


24 .. 




ej 118 


153 


120 


116 


224 


108 


hi si* • 3 • • 




ej 119 


152 


120 


116 


224 


106 


10 . . 














115 



Prices in England and Wales 
current -exchange rates, a/ 
Augast 15, 1934. §J July 1 



are for week ending 
rams so . b/ P. A. Q,. 
to date, e/ nominal 



Saturday. Conversions made at 
cj Producer's fixed price from 



202 foreign. Crops and, Market s Yol. 36, Ho. 13 



SED GSAI1TS A1H) RYE: .Weekly average price per "bushel of corn, rye, 



Week 
ended 



High b/ 
Low b / . . 



Feb. 26, 
Mar. 5. 



12. . . 
19.. . 



Cash p: 



-^z&L+...£jai barley at_leadj.n.g-ji\arke.t 

ic xix : _2xe_ 



M. 



10 



Yrl 1 qjh 

1937 : 1958 



Futures' 



lent.?; Cent's; 
117 : 61 



108 

109 
112 
113 
114 
117 



57 

57; 

57. 

57 

57 

53 



ces are weig 



1957 ;, 1956 
.Cents;' Cents 



62 
59 
_Msy 

60 
59 
-59 
59 
60 



ted average 



114 
105. 

Jta 

106. 
108 
109 
110 



Futures 



1937 ; 19 38 
Cents, Cents 



■ 56 
48. 

A O 

*±o 
50 
51 
53 
56 



66 
64 



66 
66 
64 
64 



No 



1937 



Ce nts : 
117 
106 

106 
106 
107. 
109 
111 



Cent; 

.77 
66 

75 
72 

68 
68 
66 



o: 



reported sales; fut 



Oats 



JZhicagQ. 



Minneapolis 



3o . 
JDal 



1937 



Cents 
55 
49 

49 

- 49 
50 
50 
52 



;38 



34 
32 

33 
33 
32 
32 
32 



1937 



Cen tsj 
137 
112 

127 
124 
117 
119 
112 



1938 



Cents 



83 



83 
81 
73 
77 
74 



are prices are 



averages of daily quotations . b/ For period January 1 to latest date shorn. 

FEED GRAINS: Movement from principal exporting countries 



Commodity 

and 
country 



Exports 
for year 



1935-36 



1 , 000 
JiusiieJ_s 
9,886 
6,882 
9,994 
JAl , 09D. 



67 P52 



£5^016 



91 

io,69o; 

24,600 
940 



1 

1,027 

0 



65; 



PARLEY, EXPORTS: c/ 
United States . . . . 

Canada 

Argentina 

Danube & U.S.3.R. 

Total. 

OATS, EXPORTS: c/ 
United States . . . 

Canada » 

Argentina 

Danube & U . S . S . R 

Total. 

COR!!, EXPORTS: &/ 
United States . . . 
Danube & U.S.S.R 
Argentina. ...... 

South Africa.. . . . 

Total 

United States 

......imports . . : ; 21 1 089 1 1.03 . 64 3 

Compiled from official and trade sources, a/ The 
nearest to the date shown, b/ 
ginning October 1. 



1 , 429 
15, 615 
10,855 
__U291) 
_2_3 289 

867 
14,321 
297,387 
10 , 259 

52z.ai4 



1936—37 



1,000 
bu shels 
5,153 
18,880: 
14,668: 
_2£^315 



!5 



432i 
5! 



, o. 



401,7221 



Shipments 1938, 
we ek ended a/ 



Mar. 12 



1 , 000 
biimeJLs. 
70 

873 
^Q0_ 



581 
0 

130 
D_ 



19 



1,000 
b.ushals 
45 

585: 
li 



1,005 

0; 

4 

Q 



26 



1 , 000 
bushels 

255 

357 
75 



489 
0 



1,686 

0: 
12 

o 



Exports as far 
as reported 



Jul; 
t 



7 1 

0 



Mar. 
Feb. 
Mar. 



26 
28 
26 
.23-. 



Mar. 26 

Feb. 23 

Mar. 26 

Ma r. 26 



.Oct... 



Mar . 2 b 



Mar . 
Mar. 



do 



1936-37; 
- I 

w : 



1937-38 



1,000.;, 
bushel s; 
5 , 24Bj 
16,496'; 
] 1 , 926 
23 J.S4 



1,000 I 
bus hels 

9 , 337 
10,215 

8 , 812; 
18 . 227 



^6.864 46,591 



599; 8,147 
8,850i 6 , '2ll 
16,985; 25,13qj 



810 



16C 



27 . 254 39 , 654 



213; 41 ,259 
13,445; .524 
202,035; 75.8C7 

4,188 20,95% 

219,881 138, 548 



Feb.^J38j 52,678 1,5 8? 

weeks shown in these columns are 
iminary.~c/ Year beginning July 1. d/ Year be-: 



April 2, 



F03 



511 Crops and Markets 



203 



EXCHANGE PATES: Average weekly and monthly values in Hew York of 



Country 


; 1,'onetary 
\ tmi t 


Month 


Week ended 


' 1335 


1337 


1937 


1938 


1938 


jt eb . 






J an. 


l Fe"b. 


Liar . 
12 


19 


Mar . 
25 






Cents 


Cents 


Cents 


Cents 


! C en t s 


Cents 


Cents 


Cents 


Argentina. • 


Paper peso. 


33.33 


32.53 


33.31 


33 , 33 


: 33.45 


33-39 


33 . 14 


33.08 


Canada- .... 


Dollar 


LOO. 11 


99< 95 


39.95 




h on (y> 


00 






Cn ina * 


Sfctang. yuan 


29.91 




29. 4^ 


29.49 


: 29.60 


29.51 


29.84 


27.34 


Denmark* . . . 


.Krone « .... . 


22.32 


21.85 


22.30 


22.32 


•22.40 


22,35 


22.19 


21.15 


England. . . . 


Pound. 


500.05 


489,39 


i99 <64 


499.98 


poi.eo 


500c 81 


497.01 ' 


496.03 


France 


Franc 


• 5 c 58 


4.65 


3.39 


3.34 


; 3 .28 


3<19 


3.07 


3.04 


Germany. . . « 


Reichsmark. 


40.69 


40-23 


40.30 


40.28 


J40.42 


40.35 


40.15 


40.11 


Italy 


Lira_ , 


8,04 


5.25 


5.25 


5. 26 


j 5.25 


5.25 


5.25 


5.26 


J apan ...... 


x en .0 


29.13 


28,53 


29.08 


29.05 


•'29.03 


28.91 


28.57 


28.85 


Mexico ..... 


peso ....... 


27.77 


27.75 


27.75 


27.75 


'27.75 


27.75 


27.75 


22.28 


Netherlands . 


Guilder. . . . 


0 3 • 0 3 


54.59 


55.50 


55 . 71 


•55.96 


55.35 


55.33 


55.23 


Horway. .... 


Krone 


25.12 


24.53 


25.10 


op: ^ 0 


•25.21 


25 .15 


24.97 


24.93 


Sweden. .... 


Kronac 


25.78 


25 .23 


25,75 


25 c 77 


• 25 . 86 


25.79 


25.60 


25.56 


Svd tzerland.: 


Franc. 


33.03 


22.83 


23 .12 


23.12 


'•23.23 


23-13 


22.97 


22.92 



Federal F.e serve Board 



a/ Ho on ouyir.g rates 



WHEAT, IHCLUBIHC FLOU?.: Shipments from principal exporting countries, 
as given "by current trade sources, 1935-35 to 1337-38 



/ 



Horth America a/. . . 
Canada, 4 markets b 
United States c/... 

Argentina 

Australia 

Danube and Bulgaria d/. 
Briti sh Inia cj 

Total ef 

Total European 

shipments aj . . . 
Total ex-European 



sni-oments a 



/ 



:otal 
shipments 



Shipments 1938,' 
week ended 



1535-35. 1936-37 Mar. 12 Mar .19 . Mar. 25 



1,000 
b ushels 
220,454 
245,199 
7,219 
73 s 312 
3.10,576 
29,024 
3 1 3-i. 2 



i.oco ; 1,000 

bushels: bushels: 
225,902 



2, 5o5 



194,531: 
10, 04 9| 
154,673 : 
105,835: 
38: 
65,544: 
14.574: 



2,403: 
391: 
1,502; 
2,220; 
4,528| 
232: 
415 
0: 



149 , 24-i 
350, 274 



575.722: 



434, 50C: 8,513 



5.31,750 I 127,192: 2.064 



1,000 : 
bushels: 
3,590] 
453; 
2,238: 
1,969! 
3,842 
816: 

854; 
30| 



1 , 000 
bushels: 



270, 153,191; 



2,02 
1,281 
2,414 



695 

66 

28 



Shipments 
uly 1-Mar. 



1936-37. 1937-38 



1,000; 1,000 
bushel s' bushels 
130, 3i4j 138,332 



o,oy 
122,458 
70,544 
38: 

48,088; 
8,055; 
42 3,575 341,513 

W jf/ 
323,648 275,032 
—) 



65,005 
50,899 
47,552 
75,943 
35,864 
32,224 
11 ,738 



2L/ 



9 5,008, 65,455 



Compiled from official and trade sources, a/ Broomhall 1 s Corn Trade Hews< 
b/ Fort TTilliam, port Arthur, Vancouver, Prince Rupert, and New Tfestminster. 
0/ Official, d/ Black Sea shipments only, ej Total of trade figures includes 
Horth America as reported by Broomhall. ff To harch 12. 



Foreign Crops and Markets 



Vol, 36, No. 13 



Index 



Page 

Late ca"bles... ... 19-1 



Almonds, Mediterranean . Basin; . 

Exports, 1929-1937............... 19S 

Production, 1537 * ..«.» 198 

Cashew nuts, India: 

Distribution, IQ37-3S 195 

Exports, Apr. 1-Nov. 30, 1937 iqU 

Imports, Apr. 1-iTov. 30, . I937. ... . 195 

Prices, January 1978 196 

Situation, January 193^ ......... . 19^ 

Supply, 1937~3S. 195 

Exchange rates, foreign, 

March 26 , I.938 203 

Filberts, Mediterranean Basin: 

Exp 0 r t s , S ep t embe r~ J anuar y , 

l937~ - 3^.**.. •* • » • • • • • • * • » • • • • • . 1 9 7 

Imports, September- January, 

1937-3S 197 

Production, 1936, 19 7 7 196 

Grains (feed): 

Movement, principal countries, 

March 2b, 1938.... 2C2 

Prices, principal markets, 

March 2b, 193S 202 

Pork: 

Exports, U.S., 

October-February, 1937-38 200 



Page 

Pork, cont' d: 

Imports, U.K., October-February, 



1937-3S 200 

Prices, specified markets, 

February 1938 199 

Supplies, U.K. , February 193 8... 200 
Prunes, market for American, 

Europe, 1938 193 

Eye, -prices, 

U.S., March 26, 1938 202 

Tobacco: 

Area (flue-cured), Far East,' 

19 7 ,8 192 



Production (f lue-cUred) , 

Far "1-st, 1936,1937 192 

Situation-, Far East, 19^8....... 192 

Vegetable;-: 

Export situation, Cuba, 



March 29, I93S I9H 

Shipments, Mexican West Coast, 

March 1-15, 193 g • 19*+ 

Whea.t: 

Prices, specified markets, 

March 2b, 1938 201 

Shipments, principal countries, 

March 26," 19^8.. 203 

Wool, sales, London, 

March 30, 15" 7 >8 191